Market wrap: all the sales and leasing in and around Sydney

Hudson will relocate its Canberra headquarters following its commitment to 649 sq m on the top floor of Marprop’s recently-acquired building at 17 Moore Street. The rent is confidential, however, market sources indicate that rent in the building is believed to be between $440 to $450 per sq m for a seven-year lease. Caleb Brinton from Colliers International finalised the deal.

Huntingwood

A backlog of vehicle repairs following Sydney’s December 2019 hail storms has sparked a 4300 sq m office/warehouse lease in Huntingwood. Hail repair specialist Action Smart Group has taken a three-month lease over Tenancy 1, 15 Huntingwood Drive, to accommodate ongoing repair work. The rent is confidential but is believed to be between $130 to $150 per sq m gross. CBRE’s Matthew Alessi, John Micallef, Moshe Greengarten and Cameron Grier negotiated the lease over the freestanding property.

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A backlog of repairs for hail damage to vehicles has driven a 4300 sq m office/warehouse lease in Huntingwood by Action Smart Group.

Sydney

Australian Essential Services Compliance Pty Ltd has leased a 123 sq m partitioned office at Suite 606/Level 6, 65 York Street, Sydney from TreMarq Property Group Pty Ltd at $543 per sq m gross. The lease term is four years. John Skufris Ray White Commercial South Sydney and Charles Boustani Caretaker Services negotiated the lease.

Silverwater

The Acoustic Box Pty Ltd has leased a 952 sq m industrial site at 6 Carolyn Street from Swetha International for $131 sqm gross. The lease term is three years. Marco Chiodo, David Lidgard and Mitch Whiteley from JLL negotiated the lease.

Sydney

Prince Capital Solutions Pty Ltd has leased a partly furnished 55.64 sq m office with fit-out and city skyline views at Suite 2/Level 13, 447 Kent Street from MSW Holdings Pty Ltd at $700 per sq m gross. The lease term is two years. John Skufris, Ray White Commercial South Sydney, negotiated the lease.

Lewis Pulleys, a family-owned and operated power transmission specialist, has relocated its headquarters to Alexandria. Owned by local investor A&E John Pty Ltd, the 226 sq m industrial strata unit at 19, 17-21 Bowden Street is in an estate of 30 units and was leased via an off-market transaction. The five-year lease with a five-year option was done at $310 per sq m gross. CBRE’s Nick Zenonos and Julian Barta negotiated the deal.

Sydney

Super Crown Pty Ltd has leased a refurbished 111 sq m office with North facing city skyline views at Suite 1103/Level 11, 370 Pitt Street from Veliglen Pty Ltd at $540 per sq m gross. The lease term is three years. John Skufris, Ray White Commercial South Sydney, negotiated the lease.

SALES

Manly

Hilrok Properties Pty Ltd has sold the 815 sq m site at 32 The Corso, which is tenanted by Westpac, to a private investor for $20.2 million. Patrick Kelleher, Pine Property negotiated the sale.

Smithfield

Clayton Road Investments has sold a 1650 sq m warehouse on a corner site of 3082 sq m at 45 Sturt Street to a private investor for $5.05 million. The property benefits from dual street frontage and provides a passing rent of $252,000 a year. CBRE’s Elijah Shakir and John Tsoutsa negotiated the off-market sale and said the sale price translated to a record building rate for Smithfield of $3060 per sq m and a tight yield of 4.99 per cent.

West Ryde

Ervin Nadel has sold a 2595 sq m warehouse and office at 11-13 Rhodes Street to Seymour Building Supplies for $7.9 million. John Carney, Colliers International negotiated the sale.

MOVERS

Herron Todd White

Independent property valuation and advisory group Herron Todd White has appointed Gary Brinkworth effective in the first quarter of 2020. Mr Brinkworth joins Herron Todd White from United Petroleum, where he is group chief executive.